Analyst: Ethereum is bearish in the short term; if it breaks through the resistance level of 4600 USD, it may aim for 5000 USD

ChainCatcher news, crypto analyst @ali_charts stated that if Ethereum's 4-hour closing price rises above $4,500, it will mark a breakout of the recent downtrend line and suggest that bullish momentum may be recovering.

The next key resistance level is at $4,600. If Ethereum can decisively break through this level, it may open the way for a return to $5,000. However, Ethereum is currently trading in the middle of the channel, following the downtrend line. The SuperTrend indicator is still in a sell signal. Unless Ethereum can reclaim $4,500 and turn it into a support level, the short-term outlook remains bearish.